US stocks close higher, Nvidia reaches $4 trillion market cap, Trump unveils more tariff letters

Market Performance & Trends - The Dow closed up around 200 points, the S&P 500 up about 0.6%, and the NASDAQ up nearly 1% [2] - Nvidia hit a $4 trillion market cap, closing up around 2% [2] - Apple is down around 16% year-to-date, while Tesla is down roughly 26% [3][4] - Industrials are the number one sector year-to-date [6] - Stocks that cross into the $1 trillion club rally another 9% over the next 6 months on average [12] Company Specific News - Nvidia's revenue soared up more than 200% year-over-year due to demand for AI chips [11] - Nvidia could be on track for a $6 trillion market cap in the near future [14] - Merc will acquire Verona Pharma for about $10 billion [37] - Samsung announced their new Z Fold 7 and Z Flip 7, with the Fold 7 priced at $1999 and the Flip 7 at $1099 [49][53] Economic Factors & Outlook - Potential market pullback with drawdowns on the order of 75% to 15% is possible [21] - Economists forecast initial jobless claims to tick up to 235,000, signaling a slight increase in layoffs [62] - 30-year fixed mortgage rates are currently sitting at 66%, marking the fifth consecutive week of declines [61]